Breaking Down Anthropic's $1.4 Trillion IPO Valuation

Anthropic disclosed a target IPO valuation of $1.26‑$1.4 trillion, positioning it just 12 % above OpenAI’s recent $1.25 trillion fundraising despite generating 70 % more revenue in Q3 and faster growth. Shares will debut at $70‑$78, implying a $1.3 trillion market cap, lower than earlier analyst expectations. The gap highlights a widening sentiment divide between public and private AI investors.